transfer in contemplation of death


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transfer in contemplation of death

n. giving property under the belief by the giver that he/she is about to die or has a terminal illness. However, health recovery may result in cancellation of the gift. This is also called a "gift causa mortis."

References in periodicals archive ?
1) When insured purchased a one year accidental death policy and arranged for the policy to be owned by his children from the beginning, the proceeds were includable in his estate as a transfer in contemplation of death when he died within the policy term.